RBS CEO Hester to Step Down Later this Year


Part-nationalised Royal Bank of Scotland <RBS.L> said on Wednesday that Stephen Hester will step down as chief executive later this year and that it will begin searching for a successor immediately.

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RBS, 81 percent owned by the government, said Hester will lead the business until December to ensure a smooth handover to his successor. It said Hester had been unable to make an open-ended commitment to the role having held it for five years already.

(Reporting by Matt Scuffham; Editing by Steve Slater)